Bitcoin Forum

As we all know many of us are holding Litecoin wondering how high this spike will go. Moon ?

https://www.tradingview.com/x/Ygcxfqy0/

I don't hold any Litecoin myself so I  mention this only out of passing interest but about now might be a good time to start thinking about taking profits.

I'm not saying Litecoin can't or won't go significantly higher but for me we are in a danger zone. Reason being this log chart.

https://www.tradingview.com/x/IsXPFywJ/

The flatish, slightly bearish channel I've added in looks like it might be valid, note price is rapidly closing in on top of that channel, might shoot past some way, but eventually price will crash. Don't be the bagholder.

Disclaimer: I offer this only as opinion I won't take blame it it doesn't work out. (But might take some credit if it does though  8) )

Fontas would like to have a word with you.
https://www.tradingview.com/chart/LTCBTC/Cy0Fv2bx-The-Triple-Tit/ (https://www.tradingview.com/chart/LTCBTC/Cy0Fv2bx-The-Triple-Tit/)

A: The Chart analysis from this thread isn't really what you can call good

B: Is this the real Fontas? Thought he was gone forever :D

The halving hasn't even come and ur selling lol.

yup, the sudden spike may also have a flash dump its better to get a quick profit than none  :D





people don't have the same target profit.

People have learned from the late-2012 Bitcoin halving and subsequent 100x rally in 2013 that halvings make the price go up. So now the price goes up before the halving, rather than after. In other words, it is priced in.

Hold bags much?

Kudos to anyone who made out like a bandit with LTC. It's nice to see some pumping action 2013 style even if it was with an alt. Perhaps it was all done to bring back an echo of the good old days.

I fear for Litecoin after halving. Litecoin acceptance is low and not pulling in investors. Litecoin's price is up because Litecoin daily supply will be halved and it is going to cost more to mine the same Litecoin. There is nothing more! No encourage news and no new developements. After this pumping ends, a dump will start and how low will Litecoin go this time, will it ever recover?

The altcoins are so transparently narrative-driven. I looked at the blocksize debate and stress tests a while ago and concluded the next narrative would be "big blocks" or scalability, so LTC would rise. I saw LTC rise, then I thought, "Oh yes, but then the other old-skool altcoins that always rise with LTC will rise: PPC and NMC."

I saw them rise, and now I think, "Oh but they left out DOGE, which is new enough to be left out of the old skool but does have very high transaction volume, so it will eventually have a pump, too." So DOGE is probably next, though it's confounded because it's part of the "community" narrative. However that narrative is so old that people forgot about it by now (AuroraCoin and Mazacoin, anyone?), so that'll probably just delay its bump. After that it will probably be Monero (and maybe DASH) because the old "anonymity" narrative will have faded away enough because of all the recent blocksize drama, allowing them to get in on what will have by then turned into the "time for the solid alts to rally" narrative (even though Monero is probably a lot less scalable than BTC, it won't matter by then because of the new-new narrative).

This is all invalidated temporarily if Bitcoin takes up the torch for the rally, as I expect it to.

Gotta admit, i've got some i'm thinking of cashing in on.  With just over a month left before halving i think its peak may be a little higher, but that fall at or before halving is gonna hurt! Remains to be seen though.

Buy the anticipation, sell the fact.

Call me a retard but I've got a sell order at 0.09 =)

Agreed, LTC entering first stages of distribution. Build short positions on the rallies, which will have declining peaks.

Nevermind. The bull is still with this coin.

that's an assumption, that may be wrong, first because past history isn't always indicative of the future, second because litecoin isn't bitcoin, litecoin isn't stopping here anytime soon, 0.06(previosu ath) is surely possible

it's true that people will not start to dump 1 day after the halving, there isn't this kind of logic behind trading, but we are still to far away from that point to even think that the hype for the halving is dead already...

i didn't even expect that litecoin could go up this way and this fast. but i am happy that i have bought some when it was low price.
but i think especially now that bitcoin is having spikes in price ($288 now) a lot of the investors in litecoin is going to come back to bitcoin. but it looks like litecoin has still some potential to go up too.

In cold light of next day I don't know if now is good time to sell. Maybe I should buy? Lol. I don't know basically.

Could Litecoin get above the channel mentioned in my OP then find support above that for a second leg up ? When is the halving anyway?

edit: Just after I wrote that look at the chart and see 20% drop!

Well Litecoin pierced the top of my channel now falling quite steep.

https://www.tradingview.com/x/Y8njQK3g/

Did you take profits ?

Anyway I don't know if this means bull run is over, but it 'might', doesn't look good at the moment.

https://www.tradingview.com/x/9ycZcSFl/

It's -45.94% now on finex. Thanks for the good call to dump. I was considering buying with my Bitcoin but decided it was too risky after looking at your charts. Losing half my money in the space of half an hour would have been a nightmare. Those who bought at the bottom made good, but those who bought at the top took a big haircut.

Thanks spud. Sometimes its a bit scary making predictions like this in case I get it wrong. Glad it worked out this time.

My god that dump was fast  and hard :o   red dildo party  ;D

At least I managed to exit at 0.026 and took some profits  :P

Well yeah big holders in the coin.
People should have known someone big was going to come in and be like here is my big floppy earnings and rape the market.

lmao

someone just cashed out BIG time.  wonder if others will follow and the drop will continue or ltc will resume the slow rise?

As pointed out earlier halving hasn't happened yet, additionally litecoin is most established crypto after bitcoin but without the blocksize debate dragging it down. Also Litecoin has started from such a hugely depressed price there is still a long long way to go for new all time highs. So there are still bullish arguments in play. But looking at chart it does look like that may have been the peak for this spike..

I made prediction of price drop based entirely on the chart, and to me that channel looks valid. It is a big ask to get above that level. But you never know it is possible.

This will be known in LTC circles as the ultimate bear trap..

I'd consider selling still with a rebuy at something like $3 and a "stoploss" at $6.  

I think this is what everyone is wondering. Sitarow has an interesting post in 'wtf is happening' and 'wall observer' discussing how a similar tactic was used before to attempt to stimulate btc demand. It seems evident that the ltc/btc drop resulted in pushing btc/usd up... albeit briefly... and is still going sideways but a few bucks higher than before.

I'll admit, I was thinking we would drop farther with ltc/btc to maybe .015 or .016 and i've been surprised by the relatively 'constant' support and buying pressure. I sold some at .02 but it seems like that may be the new sideways marker. I'd guess that maybe we start to see some action in ppc or even nmc before they start pushing ltc again. Maybe wait for people to open both longs and shorts. It just seems like the dumpage is over far sooner than it began. I guess I was expecting some more volatility.

 Thoughts as to where we go from here? How long until NY implements bit license? I'd be interested to know what will happen to various exchanges once NY starts to ask for a piece of the pie...

Uptrend is clear. Many traps happened in the last week. Sorry for those who sold , expect a $350 next week.

Just HODL

350$ Litecoin! Stop dreaming.

Where can i short ltc?

Lots of places. Poloniex, Bitfinex, BTC-e. Most of the Chinese exchanges like OKcoin will do it too. You're spoilt for choice.

LTC selling seems to have subsided for now right around the 61.8 fib retrace, possible upwards movement to continue. just sayin

I actually logged into btc-e for the first time in months today and found that all my LTC sold at 0.03. I think I made that order last summer or in the fall lol.

If ya look at the 1 week chart that recent red dragon looks very intimidating in ltc/btc. Yet, it does appear that the retrace is holding and looking up which means this could be a good re-entry point if you're looking to make a play on litecoin again. :)

Imactually still bullish on litecoin at this point, the buy orders have been growing and with bitcoin stable its perfect market conditions for more action.

It was to be expected honestly that was one of those trendlines where you know its coming but its a game of chicken until it happens.
Kind of reminded me of the good old days when Bitcoin had a flash crash or two after a nice price rise though so its a plus for Litecoins history :)
At present neutral not sure how far it can drop from here and how much is actual litecoin gains.

Leveraged short at bitfinex

Thanks!!
I didnt read the post